KeyCorp Upgrades Doximity (NASDAQ:DOCS) to Overweight

Doximity (NASDAQ:DOCS) was upgraded by analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a report released on Friday, Marketbeat reports. The brokerage presently has a $70.00 price target on the stock. KeyCorp’s price objective would indicate a potential upside of 20.17% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Canaccord Genuity Group upped their price objective on Doximity from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Bank of America raised their price objective on shares of Doximity from $32.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Baird R W upgraded shares of Doximity to a “strong-buy” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. raised their price target on shares of Doximity from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Finally, Barclays upgraded Doximity from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $35.00 to $52.00 in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $42.43.

Doximity Stock Performance

Shares of DOCS stock opened at $58.25 on Friday. The company has a market capitalization of $10.81 billion, a price-to-earnings ratio of 72.81, a PEG ratio of 5.09 and a beta of 1.30. Doximity has a 52-week low of $20.28 and a 52-week high of $60.90. The company has a 50-day simple moving average of $41.55 and a two-hundred day simple moving average of $33.11.

Doximity (NASDAQ:DOCS) last released its earnings results on Thursday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. Doximity had a return on equity of 19.26% and a net margin of 32.53%. The company had revenue of $126.68 million during the quarter, compared to analyst estimates of $119.88 million. On average, sell-side analysts forecast that Doximity will post 0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Doximity

Hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its stake in Doximity by 324.2% during the third quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock valued at $34,000 after acquiring an additional 603 shares in the last quarter. LRI Investments LLC purchased a new stake in Doximity in the 1st quarter worth approximately $27,000. Blue Trust Inc. boosted its holdings in Doximity by 621.4% in the 2nd quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock valued at $37,000 after purchasing an additional 1,193 shares during the period. GAMMA Investing LLC grew its position in shares of Doximity by 40.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,439 shares of the company’s stock valued at $63,000 after purchasing an additional 412 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Doximity by 101.2% in the second quarter. Quarry LP now owns 1,616 shares of the company’s stock worth $45,000 after purchasing an additional 131,253 shares during the period. 87.19% of the stock is currently owned by institutional investors.

Doximity Company Profile

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's platform provides its members with tools built for medical professionals, enabling them to collaborate with their colleagues, coordinate patient care, conduct virtual patient visits, stay up to date with the latest medical news and research, and manage their careers.